Calamos Advisors LLC Takes $1.57 Million Position in Arcutis Biotherapeutics, Inc. $ARQT

Key Points

• Calamos Advisors LLC initiated a new stake in Arcutis (NASDAQ:ARQT) in Q4, buying 54,165 shares worth about $1.57 million, and other institutions (Zevenbergen, Nordea, Ally Bridge) also opened multi‑million dollar positions.
• Company insiders sold a total of 159,546 shares (~$4.03 million) over the last quarter (including sales by Director Howard G. Welgus and Todd Watanabe), leaving insiders with 9.40% ownership.
• Analysts maintain a “Moderate Buy” consensus with an average target of $34.00 after recent price‑target increases, and Arcutis recently beat estimates with Q revenue of $129.5M and EPS of $0.13.

Calamos Advisors LLC bought a new position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 54,165 shares of the company's stock, valued at approximately $1,573,000.

Several other institutional investors have also bought and sold shares of the stock. Zevenbergen Capital Investments LLC acquired a new position in Arcutis Biotherapeutics during the fourth quarter worth $12,140,000. Nordea Investment Management AB acquired a new stake in shares of Arcutis Biotherapeutics in the 4th quarter valued at $5,850,000. Ally Bridge Group NY LLC acquired a new stake in shares of Arcutis Biotherapeutics in the 3rd quarter valued at $4,396,000. Jennison Associates LLC grew its holdings in shares of Arcutis Biotherapeutics by 10.3% in the 3rd quarter. Jennison Associates LLC now owns 12,254,119 shares of the company's stock worth $230,990,000 after purchasing an additional 1,144,714 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Arcutis Biotherapeutics in the 3rd quarter worth about $1,630,000.

Insider Activity at Arcutis Biotherapeutics

In other news, Director Howard G. Welgus sold 10,000 shares of the company's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $23.88, for a total transaction of $238,800.00. Following the transaction, the director owned 39,744 shares of the company's stock, valued at $949,086.72. This represents a 20.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Todd Watanabe sold 37,349 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $25.18, for a total value of $940,447.82. Following the completion of the sale, the insider owned 785,957 shares of the company's stock, valued at approximately $19,790,397.26. The trade was a 4.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 159,546 shares of company stock valued at $4,032,162 over the last quarter. 9.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ARQT has been the subject of several analyst reports. HC Wainwright lifted their price target on shares of Arcutis Biotherapeutics from $30.00 to $34.00 and gave the company a "buy" rating in a report on Thursday, February 26th. Guggenheim upped their price objective on shares of Arcutis Biotherapeutics from $34.00 to $35.00 and gave the stock a "buy" rating in a research note on Friday, February 27th. Mizuho dropped their price objective on shares of Arcutis Biotherapeutics from $37.00 to $35.00 and set an "outperform" rating for the company in a report on Monday, March 2nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Arcutis Biotherapeutics in a research note on Friday, March 27th. Finally, Wall Street Zen downgraded Arcutis Biotherapeutics from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 14th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Arcutis Biotherapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $34.00.

Arcutis Biotherapeutics Stock Performance

Shares of Arcutis Biotherapeutics stock opened at $23.42 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.17 and a quick ratio of 2.99. The firm has a market cap of $2.93 billion, a P/E ratio of -167.27 and a beta of 1.76. The firm has a 50 day simple moving average of $24.11 and a 200 day simple moving average of $25.69. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $12.42 and a fifty-two week high of $31.77.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.10. The firm had revenue of $129.50 million for the quarter, compared to the consensus estimate of $110.79 million. Arcutis Biotherapeutics had a negative return on equity of 10.26% and a negative net margin of 4.29%. Sell-side analysts predict that Arcutis Biotherapeutics, Inc. will post 0.32 earnings per share for the current fiscal year.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company's research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.

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